Your Central Alabama Real Estate Resource. If you are buying or selling a home in Montgomery, or anywhere in the Tri-County area including Prattville, Millbrook and Wetumpka, this is your Real Estate Information Center.

Monday, October 1, 2012

Some people believe they shouldn't refinance more often than once every two years. The determining factors are if you'll lower your payments and plan to stay in the home long enough to recapture the cost of refinancing. If so, you should consider refinancing.

Interest rates have actually come down significantly in the past 12 months and even more in the past 24 months. According to the Freddie Mac Primary Mortgage Market Survey®, rates on a 30 year fixed rate mortgage are down to 3.6% in August, 2012 compared to 4.27% one year earlier.

Refinancing in the example below would save the homeowner $67.04 per month and they would recapture the cost of refinancing in 3 years and 9 months based on approximately $3,000 of closing costs.

Click Here to make your own projection on a Refinance Analysis calculator.

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About Me

Jere Whitehouse has continually distinguished himself with awards and honors throughout his successful real estate career of over 30 years, all in the Montgomery, Alabama, area. Prior to his affiliation with Intervest Realty Group, he worked with other major real estate companies and was consistently the top agent out of three offices and over 80 agents. In 1997, in addition to earning the Top Agent Award for the year, he also earned the prestigious "Ed Lowder Award" for Excellence in service to his clients and his leadership within the company.